But Aritzia, the fourth-largest Canadian-owned womens apparel retailer, has a better chance than most chains of coming out strong, if not stronger. They are part of the Executive team within the C-Suite Department and their management level is C-Level. Just with the success on the very strong demand that you're having in the U.S. and with strong productivity from the new boutiques that you're building, is it changing your longer-term perspective on the U.S. market and just how big that could be for you and maybe the potential number of boutiques that you might open there over the long run? We also advanced our client and sales reporting this quarter, giving us a 360-degree view of our clients and their shopping behaviors. Strategic real estate choices have also always been important to the brand, and Aritzia is growing in that realm and making power moves. We continue to advance our data and analytics capabilities to empower our team to make informed data-driven decisions. (Bloomberg) -- Aritzia Inc. is winning over American teens and 20-somethings with a playbook that looks out of step with today's often bleak retail environment.Most Read from BloombergElon Musk Fan With 2,900% Gain Sees $1.5 Million Wiped AwayT-Mobile Considers Buying Ryan Reynolds's Mint MobileUS Inflation Cools Again, Putting Fed on Track to DownshiftThe Document That Separates Biden and . Find contact information for Aritzia. Sitting criss-cross applesauce in a studio in Vancouver's Railtown neighbourhood, Wong, founder of mobile advertising platform Kiip, isn't afraid to act his age. "Aritzia has a lot of great brand equity. window.mc4wp.listeners.push( Aritzia has long been a closet staple for the fashion-conscious, attracting everyone from 14-year-old girls after its signature TNA leggings, to the stylish over 60s. Thanks, Jennifer, and good afternoon, everyone. Our earnings release, the related financial statements and the MD&A are available on SEDAR as well as the Investor Relations section of our website at aritzia.com. Many of the strategic decisions Aritzia had made in earlier years bore fruit during the crisis. In its Q3 results, Aritzia reported that its e-commerce revenue was up 78.5% vs.Q3 last year. We're getting good TI packages and everything else. For one, having control over its supply chain gave the retailer the ability to essentially stop the presses on some inventory orders for spring and summer. Aritzia Inc., together with its subsidiaries, designs and sells apparels and accessories for women in North America. Having spent her entire career at the retailer, she led many of the inconspicuous but essential initiatives that proved so crucial at the start the crisis, from establishing a robust technological infrastructure that enabled the companys e-commerce platform to respond to the sudden demand spike, to developing a centralized distribution system that helped the retailer manage its supply chain while others struggled. So there's a lot of moving parts here on the product, and I'm quite involved on a daily basis and were there just a lot of puts and takes and it will be pretty -- it's pretty hard to determine right now where this whole thing is going to shake out as far as -- and how that's going to affect gross margin over above the areas that Todd has outlined. Know. Social media is one of many vehicles, but in the fashion business, its an important one. When Meghan Markle, Duchess of Sussex (whose stylist has a connection to Aritzia), was photographed in a Wilfred Cocoon coat, Aritzia team made sure the world knew it, and the line sold out. On this Tuesday in September, the store is busy but not crowdedsomething it may never be again if COVID-19 permanently changes how we shop. Were super thrilled about it, says Wong of their new flagship boutique. Email Address * Country * So we're excited about them. And so therefore, obviously, the first half of this year, we're lapping a period where we didn't spend significantly. The strong momentum in our business has continued into the second quarter. As the Pres, COO, and Corp. Sec. Dressed in a dark blouse with white polka dots, her dark blond hair perfectly in place, Wong could be a model for the companys business-casual Babaton label. We want to make sure our people reflect our brand and exude our culture., One of the challenges Wong faces as a leader of a growing organization is her inability to draw on previous work experiences. Aritzia's popular TNA sweatsuit, Photo Credit: Courtesy of Aritzia. As a followup to this capsule collection, Aritzia released a limited-edition collection, Cause Mom, in time for Mothers Day. Wanda Costen is leading change in business education. You are here: Home 1 / Clearway in the Community 2 / Uncategorised 3 / jennifer wong aritzia husband. So part of the product expansion, some of these initiatives may be eCommerce only and there's a lot of pure plays out there doing incredible business without any stores. Thank you, Todd. This improvement was achieved primarily from leverage on occupancy and warehousing costs that was amplified as we lapped the boutique closures from last year. At first glance it seems the boutique, which spans 10,000 square feet over two stories, resembles nothing of its originsthe small nook tucked inside the Hills of Kerrisdale department store in Vancouverbut there are two key components that havent changed since its humble beginnings: its distinctly Canadian vibe and the involvement of Jennifer Wong. Jennifer Wong has 3 current jobs including CEO at Aritzia, President & Chief Operating Officer at Aritzia, and COO at Aritzia. I noticed you mentioned it was sort of proven sellers, but how much of that is new category extensions? Cropped sweater, softer than a Persian cats fur, for those long days stuck at home. While the retailer adds trendy items each season, it stocks small quantities to gauge customer demand in case a fad proves to be short-lived. Following management's discussion, we'll host a question-and-answer period open to analysts and investors. We're not even convinced at this point in time, we're going to offer intimates and swim in our stores. Join us in celebrating our newly appointed Chief Executive Officer, Jennifer Wong.. Aritzia is a woman-powered business, with 80% of our leadership positions being held by women. Track performance, allocation, dividends, and risks . Aritzia. And Todd, you gave some commentary around sort of the cadence of pressure as the year unfolds or the rest of the year unfolds. The Vancouver-based company, which went. The company has identified roughly 100 locations that could support stores, and given the troubles of its retail competitors, there are many deals to be had. the total compensation of Ms Wong at Aritzia is CAD$1,096,831. There are now 29 retail locations stateside; the first opened in Seattle in 2007. . Thanks. any notable changes in behaviour," Aritzia CEO Jennifer Wong said . But we actually think as business and demand peels off due to interest rate increases and things like that, that we actually think that, that inflationary pressure might actually ease itself. And even our largest stores can only hold 50% of our product at this point in time. We are not seeing indicators at this time. In the second quarter, net revenue was down more than 25% from the previous year, and in-store sales in July were roughly 60% of pre-COVID levels. The Joshua Tree won a Grammy for best album, the movie We would refer you to our most recently filed management's discussion and analysis and our annual information form, which include a summary of the material assumptions as well as risks and factors that could affect our future performance and our ability to deliver on these forward-looking statements. So we're balancing that. Hi Steve. On the call today, I'm joined by Jennifer Wong, our Chief Executive Officer; Todd Ingledew, our Chief Financial Officer; and Brian Hill, our Founder and Executive Chair. Please go ahead. Okay. Jennifer has 1 job listed on their profile. I think last year -- throughout the entire year, we were chasing -- our inventory levels were between 20% and 30% up over the prior year, but our sales were up 75%. But I guess I just wanted to sort of ask about you've been able to move away from some of your promotions, especially in the U.S. and sort of structurally move higher on gross margin. Find contact details for 700 million professionals. We're monitoring the challenges of supply chain, labor and inflationary pressures very closely, maximizing our position to deliver Everyday Luxury for our clients today and tomorrow is our top priority. And while our business is exceptionally good and continues to be exceptionally good, we are, as I said, monitoring very closely for any signs. Aritzia generated $818.5 millionof its2022 net revenue in Canada,or about 54.8 per cent,while $676.14 millionin net revenue came from the U.S. It didnt lay off any staff, instead shifting many to help with e-commerce and call centre operations. We have a lot of Canadians with American citizenship working at the SoHo location, says Wong. Thanks, and good afternoon, everyone. The size of Michigan is related to the success of our larger stores in Canada and the U.S. We have a 20,000 square foot store in Toronto that's exceeding our expectations. Aritzia's Jennifer Wong built a fashion empire by leading with style - and plenty of substance In a retail landscape littered with flameouts, Aritzia has managed to stand apart, thanks in no. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. 1 clothing retailer in Canada because its tactile browsing experience cant easily be duplicated online. And is there any opportunity in Canada in certain markets where you also think you should upsize the boutiques -- some of the boutiques? While we're encouraged by the trends we're seeing in our data, we continue to remain vigilant as we monitor the ever-evolving macro backdrop. This included improving our product discovery. "It sounds like they've made a really good decision overall, in terms of picking someone loyal to the company, tocontinue to move itforward," said retail analyst and Retail Insider Media owner Craig Patterson. They continue to navigate the ongoing headwinds of the global landscape to deliver for our clients and our business. Get 5 free searches. Thank you. Yet Hill, then CEO, and Wong, then president, led Aritzia to record profits in 2022 of $157 million. & Non-Independent Director at Aritzia. Ive been here a long timepeople here werent even born when I started, says Jennifer Wong, president and COO of Canadian fashion and design house, Aritzia. And so by covering many different categories across different brands and different occasion sets and different segments of our market, we have an offering that is resonating really well with our customer. This article was published more than 2 years ago. Okay. Jennifer Wong: Chief Executive Officer of Aritzia: Director; Corporate Governance Documents. To date, its actions include donating $100,000 to Black Lives Matter and the National Association for the Advancement of Colored People (NAACP); implementing mandatory training and education on systemic racism, racial inequality and social injustice (courses are required for all current and future members of the team; the education covers conscious and unconscious bias, micro-aggressions, stereotypes, inclusive language, privilege, effective ally-ship, and more). Our liquidity position remains strong with $179 million in cash and zero drawn on our $175 million revolving credit facility. This past quarter, we began offering jack.org mental health support and resources to all of our people in Canada and The U.S. We also made a donation to support jack.org's mission of providing these resources to young people across Canada. Work Biography for Jennifer Wong, Aritzia. After the Black Lives Matter protests last summer, Aritzia started by investing $1 million to expand and strengthen its Diversity and Inclusion Program and established an Executive Diversity and Inclusion Committee led by Wong. Thank you. Get 20 FREE Email lookups. "Wongknows the companyinside and out, and upside down at this point. Hill"Jennifer WongAritzia "Jennifer Aritzia She worked at the Robson Street location part-time, earning cash to buy clothes from the same store she adored for its hip designs. The Aritzia store at the McArthurGlen Designer Outlet Vancouver mall opened in mid-2020 | Rob Kruyt, Rob Shaw: Eby selects Penny Ballem as his special adviser on health, Eby announces $90M jobs fund to boost BC forestry economy, Inside Vancouver Mayor Ken Sims first six weeks in office, B.C. Jennifer Wong, who began her career at Aritzia as a . Thank you for participating, and have a pleasant day. And Wong is Aritzias analyst-in-chief. ProductEmail Finder API Accuracy Pricing Company Email Directory Compare. . Aritzia was startedinside the Hill familys80-year-old department store in Vancouver. She started as COO in 2007. And so we're anticipating that, that may change over the back half. It's hard to predict at this point. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. When we made the decision to close our stores in the middle of March last year, the first thing that was top of mind for us, was our people, Wong shares. With that, I'll now turn the call back to Jennifer. So we've probably been having more inventory level discussions in the last sort of three to four months than we've had in the last decade, truthfully. Jennifer Wong, COO and president at Aritzia, Photo Credit: Evaan - https://evaan.com. . And like I said in the prepared remarks, we have not seen any indicator sales being at the top line, but we have not seen any indicators, whether it be traffic to our website or average transaction size or average selling price. And so that leverage that we saw from those stores in Q1 or the revenue that those stores then generated this year is coming off in Q2. Markets; Tools Portfolios. Aritzia's CEO is Jennifer Wong . I mean, our eCommerce channel, where we're doing more business in eCommerce now than we were at Aritzia when we went public five years ago. Wongs impressive advancement can be attributed to a potent combination of commitment, ambition and her innate business acumen; forget dollhouses, as a child Wong was more interested in playing business on her toy IBM typewriter. Its confidence in knowing weve taken the time to analyze something and make an informed decision., Wong says its not just the employees at the executive level who are responsible for keeping Aritzia cutting-edge. It remains to be seen whether COVID-19 will permanently change shopping dynamics. Turning to our outlook. Wong oversaw the engineering of new processes at the distribution centre to allow it to continue supplying online orders, with health personnel on-site and employees working in pods so if someone became ill, only that group was affected. Yes, I'll take that. Please disable your ad-blocker and refresh. Hi, Lorraine, that's a good question because we've had lots of internal dialogue about that. Aritzia CEO Brian Hill first noticed the young sales associate during a visit to the Robson Street store three years after the companys founding in 1984. Designed for enterprising woman who want to get ahead of their career goals by taking a proactive approach. We plan to open 8 to 10 boutiques with all but one in the United States and to expand or reposition four to five boutiques. So we're pretty excited about the next few years of these flagships. These results are exceptional, demonstrating the strength of our business as we continue to drive ongoing momentum in the United States and Canada returns to full strength and all accomplished in spite of impacts from ongoing global supply chain disruptions and the challenging macro environment. Outside brands like Levis make up less than 10% of its sales. I oversee the finance department, so I'm exposed to all that, but I'm also exposed to the breadth of the business: there's HR, IT, logistics. That was probably two weeks ago and asked if we had, and I was quite political in my response because we had not seen any decreases in our sales and our customer activity whatsoever. Women to the Power of Women is a simple equation that drives us and our beliefs forward by amplifying womens voices to make exponential progress towards gender equality and inclusivity for all, Wong explains. So I see this being obviously some opportunities for new categories, but at the same time, we just don't think our stores are doing -- our size of our stores are doing our customers and Aritzia just as at this point in time. Wong was 18 years old when she started working as a part-time sales associate at Aritzia in 1987. Prior to her current role, Ms. Wong served as President & Chief Operating Officer for seven years as part of her overall 35-year tenure at Aritzia. It was also the year that Vancouver native Jennifer Wong started working at clothing retailer Aritzia. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. "I thought I would do this until I got a 'real job' in finance after I graduated," says the Vancouver native. Jennifer Wong is currently Chief Executive Officer at Aritzia - View - Aritzia org chart Set up your alert to follow the career of Jennifer Wong. A new app will also allow advisers to stay in regular touch with customers, even sending packages of curated selections to those who prefer not to come in. Today, Aritzia can count 101 boutiques, with the recent opening of its Ala Moana boutique in Honolulu, its first in Hawaii. And then so now, Michigan is not -- and the size of Michigan is not related to that. And then as I said, in Q4, we're anticipating that we have the opportunity to move slightly positive from a gross profit perspective. This outstanding growth in spite of macro headwinds was driven by the incredible demand for our product across all geographies and all channels.
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